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APA Muhtadi, L. (2025, January 30). National Security Group At a Glance: Rates, Products and Reviews. RetireGuide.com. Retrieved February 20, 2025, from https://www.retireguide.com/annuities/companies/national-security-group/

MLA Muhtadi, Lena. "National Security Group At a Glance: Rates, Products and Reviews." RetireGuide.com, 30 Jan 2025, https://www.retireguide.com/annuities/companies/national-security-group/.

Chicago Muhtadi, Lena. "National Security Group At a Glance: Rates, Products and Reviews." RetireGuide.com. Last modified January 30, 2025. https://www.retireguide.com/annuities/companies/national-security-group/.

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Key Takeaways
  • Founded in 1947, National Security Group is based in Alabama and includes a group of subsidiaries that offer annuities, insurance and property and casualty products.
  • National Security Group financial products include multi-year guaranteed annuities that are available in Alabama, Florida, Georgia, Mississippi, South Carolina, Tennessee and Texas.
  • National Security Group and its subsidiaries are limited in their ratings but still rate high for customer satisfaction with mixed ratings for financial stability.

Overview of National Security Group

National Security Group, Inc. was founded in 1947 in Elba, Alabama, where it still operates today. It maintains a strong customer-centric focus with approachable financial products, including annuities, that promote growth while providing market protection.

National Security Group represents a family of companies that include National Security Insurance Company and National Security Fire & Casualty Company. According to the National Association of Insurance Commissioners (NAIC), the National Security Insurance Company holds 0.0031% of market share with over $78 million in annual premiums.

Types of Annuities Offered

Multi-Year Guaranteed Annuities (MYGAs)

National Security Groups’ multi-year guaranteed annuity, or MYGA, is a single premium deferred fixed annuity that offers tax-deferred growth while protecting against market downturns. It carries a premium ranging from $25,000 to $1 million with an initial guaranteed period of three, four, five, six or seven years. However, availability is limited, with the annuity only available in Alabama, Florida, Georgia, Mississippi, South Carolina, Tennessee and Texas.

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Key Features and Benefits

National Security Group annuities include several features that make them attractive, including:

  • Death benefit for the full contract value is included.
  • Penalty-Free Partial Surrender enables account holders to withdraw the lesser of up to 10% of the annuity’s value or their IRS-determined required minimum distribution (RMD) amount, penalty-free after the first contract year.
  • Free Look Period allows customers to cancel the policy with a full refund for a specific period. The free look period varies by state, ranging from 20 to 30 days.

Fees and Charges

National Security Group annuities have no upfront fees. A licensed financial advisor can provide further information regarding any associated costs one may incur over time.

Customer Service and Financial Stability

National Security Group lacks some ratings from major providers, but it receives excellent ratings for customer satisfaction.

Although it has no customer reviews, National Security Group has been accredited by the Better Business Bureau (BBB) since 2006 and holds an A+ rating. According to the NAIC, the National Security Insurance Company represents 0.0021% of market complaints, with just one complaint reported. That gives it a total customer complaint index of 0.65, which is well below the average 1.00 rating for annuity products.

Financial Strength

A company’s financial strength indicates how likely it is to meet its financial obligations, including annuity payments. There are four major rating agencies, with the National Security Group having received ratings from two:

  • AM Best: B (Fair)
  • Fitch Ratings: A-

National Security Group has not received ratings from S&P Global or Moody’s.

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Evaluating National Security Group Annuities

National Security Group offers a wide range of financial products, including annuities and multiple types of insurance. It is an established group that is smaller than many competitors but still maintains a personal touch with excellent customer satisfaction.

National Security Group annuities are limited to just multi-year guaranteed annuities. Still, its annuities are flexible with multiple terms, renewal options and extra features and protections, such as a penalty-free partial surrender option. However, annuity availability is limited to just a handful of states, significantly limiting who is eligible to enter into a contract.

Be sure to ask a financial advisor about National Security Group retirement planning for further details.

Frequently Asked Questions About National Security Group
Where are National Security Group's annuities available?
National Security Group's annuities are available in Alabama, Florida, Georgia, Mississippi, South Carolina, Tennessee and Texas. Availability is limited to these states.
What types of annuities does National Security Group offer?
National Security Group offers Multi-Year Guaranteed Annuities (MYGAs), which provide tax-deferred growth and protection from market downturns. These annuities are available in select states with initial guaranteed periods ranging from three to seven years.
What are National Security Group's ratings?
National Security Group has received mixed ratings: AM Best rates it B (Fair) and Fitch Ratings gives it A-. It is also accredited by the BBB with an A+ rating and has a low customer complaint index.

Editor Norah Layne contributed to this article.

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Last Modified: January 30, 2025